88 



AUSTRALIA - AGRICULTURAL ECONOM V IN GENERAL 



Table XIII. — Lands alienated and in process of alienation 

 in the different States at different dates. 



state 



I^ands alienated & in process of alienation 



Increase in 12 yrs 



N. S. Wales 

 Victoria . . 

 Queensland . 

 S. Australia . 

 W. Australia 

 Tasmania . . 



48,039,242 



23,797,226 



16,325,132 



8,088,897 



9,585.144 



4.893,961 



57,818,023(1) 

 31,171,956 

 26,081,018 

 12,451,709 

 21,362,546 (i) 

 6,341,817 



9,778,781(0 

 7.374.730 

 9,755,886 

 4,362,712 

 ii,y7y,402{2 

 1,447,856 



(i) To 30 June. 

 (2) In II V2 years. 



Government loans are not intended to bolster up incompetent farmers 

 in old settled districts, but to finance new enterprise and open up new 

 fields for the settler. Regarded in this light, the table shows that of late 

 years Western Australia has taken a lead in the establishment of new farms, 

 and consequently has had heavy demands made upon her credit. Reference 

 to Table XI shows that at the date of the latest returns her existing loans 

 to settlers exceeded those of anv other State. 



§ 4. Conclusion. 



Land settlement has proceeded in the vState with great rapidity partly 

 for technical and economic reasons previously discussed, but very largely 

 also as a result of the vigorous land policy of successive governments, 

 and the liberal character of its agricultural loans. Whether in certain in- 

 stances its land policy has been too vigorous and its loan system too 

 generous, are matters with which this article is not intended to deal. Its 

 object is to record facts. Present indications suggest that the loan policy 

 will be modified at an earlj' date owing to the growing stringency of the 

 money market resulting from the war. 



Effect of curtailing loans. — Should the loan policy of the government 

 be curtailed for the reason stated, it is possible that a number of new 

 settlers, possessing no resources other than their credit with the bank, 



